US Stocks Erase Gains as Confusion Over Oil Tanker Takes Hold
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(Bloomberg) — US stocks inched lower, wiping out earlier gains, as conflicting reports about shipping in the Strait of Hormuz weighed on investor sentiment.
Stocks Whipsawed by Oil Volatility as War Drags On: Markets Wrap
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(Bloomberg) — Volatility whipsawed stocks as traders parsed conflicting signals about the outlook for oil supplies as the war in Iran rattles energy markets. In late hours, Oracle Corp. jumped on a strong sales forecast.
UBS Faces New Pressure in New York Court Over Past Nazi Accounts
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(Bloomberg) — Tucked under the arcade at 49 Marktgasse in Bern’s historic city center is an opaque glass entranceway with a small sign identifying it as a branch of UBS Group AG, one of hundreds across Switzerland.
Swiss Arms Exports Jump as European Defense Spending Booms
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(Bloomberg) — Swiss arms shipments abroad neared an all-time high last year as European defense spending boomed, in a rebound for an industry that feared extinction over the country’s strict export rules.
Stocks Climb as Trump Hints War Could Be Over Soon: Markets Wrap
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(Bloomberg) — Wall Street staged a dramatic comeback, with stocks and bonds rebounding on hopes the 10-day-old Iran war may be nearing a conclusion. Oil tumbled in post-settlement trading after earlier topping $100.
SNB Must Be in Market ‘Right Now’ to Weaken Franc, Junius Says
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(Bloomberg) — The Swiss National Bank is very likely to be intervening in currency markets to curb the franc’s strength, according to Karsten Junius, chief economist at Bank J Safra Sarasin.
Zurich to Buy Generali’s Irish Unit for €337 Million in Cash
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(Bloomberg) — Zurich Insurance Group AG agreed to buy Assicurazioni Generali SpA’s RedClick unit for €337 million ($389 million) in cash to expand its non-life business in Ireland.
UBS Bonus Pool Rises 10%, Ermotti Pay Unchanged at $19 Million
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(Bloomberg) — UBS Group AG increased its bonus pool for last year by 10% as the Credit Suisse integration nears its end, while keeping Chief Executive Officer Sergio Ermotti’s compensation at the same level.
US Inflation Gauges Likely Diverged Before War in Iran
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(Bloomberg) — A pair of inflation reports, including the Federal Reserve’s preferred price gauge, surface in the coming week after a dismal February jobs report that challenged perceptions the labor market is stabilizing.
Oil Leaps, Stocks Fall on War and Credit Fears: Markets Wrap
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(Bloomberg) — A weak jobs report hit stocks at a time when a widening war in the Middle East is lifting oil prices and fueling inflation jitters. Anxiety about the private-credit industry also reduced risk appetite. Bitcoin tumbled.
Surging Tanker Rates Push US Crude Shippers to Use Small Vessels
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(Bloomberg) — In a desperate bid to transport oil from the US Gulf Coast to Asia, shippers have taken the unusual step of booking smaller vessels as costs soar for the massive tankers typically used.
Swiss Reduce F-35 Order to 30, Mull European Air Defense System
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(Bloomberg) — Switzerland plans to buy only about 30 Lockheed Martin Corp. F-35 fighter jets from the US and considers purchasing a European-built air defense system to make up for delays of an existing procurement.
Lufthansa Weighs More Longhaul Flights as Iran Upends Rivals
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(Bloomberg) — Deutsche Lufthansa AG is preparing to offer more flights to Asia and Africa as the war in Iran sidelines Middle Eastern rivals, highlighting how the regional conflict stands to reshape global travel patterns.
Swiss Still Aim for US Trade Accord After Supreme Court Decision
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(Bloomberg) — Switzerland wants to continue talks with the US on a legally binding trade agreement even after the Supreme Court scrapped the legal base for most of Donald Trump’s sweeping tariffs.
Zealand Plunge Pulls Roche Lower After Obesity Shot Disappoints
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(Bloomberg) — An experimental obesity shot from Roche Holding AG and Zealand Pharma A/S failed to meet industry expectations in a study, casting doubt on their prospects of competing in the fast-growing market and sending their shares lower.
Switzerland’s Voters Are About to Put Cash in the Constitution
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(Bloomberg) — The Swiss may be about to reaffirm their fondness for cash with a vote that would give the francs in their wallets a place in the constitution.
Stocks Fall With Bonds as Oil Surges Anew on Iran: Markets Wrap
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(Bloomberg) — A slide in chipmakers dragged down stocks while a bond selloff deepened amid a spike in oil as headlines continued to depict war escalating in Iran and the Middle East. Bitcoin slumped.
Asian LNG Dips From Three-Year High as Traders Weigh Hormuz Plan
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(Bloomberg) — Asian liquefied natural gas prices pulled back slightly from the highest level in three years, as the market weighed the viability of an American plan to ensure safe passage for tankers through the Strait of Hormuz.
Stocks Rise Amid Economic Surprise as Oil Whipsaws: Markets Wrap
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(Bloomberg) — A report underscoring economic resilience and cooling inflationary pressures drove stocks higher at a time when the war in the Middle East clouds the growth outlook. Bitcoin topped $73,000. Oil whipsawed.
SNB Repeats Intervention Threat With Inflation Stuck Near Zero
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(Bloomberg) — Swiss National Bank Vice-President Antoine Martin said the central bank’s willingness to intervene to stem gains in the franc has risen amid fallout in global markets from the US war in Iran.
